Toshiba Corp has decided to stop making televisions for overseas markets amid intensified competition with Chinese and South Korean rivals, Japanese media reported Wednesday.<\/p>\n
The Japanese consumer electronics producer is in talks to sell factories in Indonesia and Egypt to streamline its operations and improve earnings, the Kyodo News agency reported, citing unnamed sources.<\/p>\n
Toshiba will continue development and marketing for the domestic market, while consigning production to other overseas firms, Kyodo said.<\/p>\n
Toshiba’s loss-making TV business has been attributed to stiff price competition with Chinese and South Korean rivals.<\/p>\n
Toshiba spokesman Tomoyuki Numata said Wednesday, “Nothing has been decided.”<\/p>\n
“But it is true that we have discussed various options,” he said.<\/p>\n
On Thursday, Toshiba announced a “fundamental restructuring” of its TV business and that it would cease TV development and sales operations in North America.<\/p>\n
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